Methanex Corp. (MEOH) Trading Up 2.4%
Methanex Corp. (NASDAQ:MEOH)’s share price was up 2.4% on Thursday . The stock traded as high as $29.74 and last traded at $29.71, with a volume of 268,758 shares trading hands. The stock had previously closed at $29.00.
Several equities analysts have recently weighed in on MEOH shares. Zacks Investment Research raised shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Cowen and Company decreased their price target on shares of Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, August 4th. Jefferies Group restated a “buy” rating on shares of Methanex Corp. in a research note on Tuesday, May 31st. Raymond James Financial Inc. upgraded shares of Methanex Corp. from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, May 17th. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $48.50 price target on shares of Methanex Corp. in a research note on Monday, June 6th. Four analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $40.95.
The company has a market capitalization of $2.69 billion and a PE ratio of 67.91. The company has a 50-day moving average price of $28.71 and a 200-day moving average price of $31.08.
Methanex Corp. (NASDAQ:MEOH) last issued its earnings results on Thursday, July 28th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. During the same period in the previous year, the business posted $0.56 earnings per share. The business earned $468 million during the quarter, compared to analyst estimates of $422.82 million. The firm’s quarterly revenue was down 26.6% compared to the same quarter last year. Equities analysts forecast that Methanex Corp. will post ($0.79) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Wednesday, September 14th.
Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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